We all know how hard and volatile 2020 was for the UK economy. UK public equity indices crashed 30% from close to all-time highs over the period from January to...
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Specialists in all things R&D and innovation
GovGrant will help you view your innovation holistically. We are able to see the whole of the R&D ecosystem, and clients that involve us early are able to commercialise their innovation at every step.
GovGrant can help you maximise the value of your innovation.
Identifying commercial opportunities in your R&D activity.
IP services - getting into the Patent Box which rewards IP rich companies starts with solid, direct advice.
Are R&D tax credits available to companies in my sector?
All businesses can benefit
Most businesses don’t see the value in applying for a patent and many think that R&D tax credits aren’t relevant to them. But in our experience all types of businesses innovate, all of the time.
Large or small – there’s an R&D tax solution for your company. Deciding which type of R&D tax relief to use is largely dependent on the size of your business. If you are classed as a small or medium sized enterprise then SME R&D tax credits are the best place to start, if you are a larger company then the RDEC scheme is probably the better option.
As a new business you are probably creating new products and services to meet unmet demand, filling a gap in the market, or approaching things from a fresh perspective. This could well result in R&D activities and IP that can be commercialised.
For example:
- Almost any manufacturer will be innovating
- Software developments that are not off the shelf
- Offering a genuinely a new product – you google it and can’t find it
- Offering a product which exists but you address a performance issue or take the product on to another stage
As your business grows there are scale up challenges that require you to innovate, and often leading to R&D activities and resulting IP.
For example:
- Your product was launched in a limited market so part of scalability was to take the product into different sectors and applications
- You are growing through acquisition and there is uncertainty in integration
- For example, bakery selling more of an artisan bread does not present a challenge, however taking manufacturing of bread from a bakery to factory could qualify as innovation
- Your consumers will expect new versions
In today’s world you may need to innovate just to stand still, technology provides new opportunities, you need to respond to the market or drive efficiencies to cut costs.
- A dip in income forces you to do something to improve the product or service
- There can be an ongoing drive to be leaner and increase margin
- Sometimes innovation is found in “the day job”, perhaps a new reporting tool, updating old machinery and adapting machinery
As you exit you should be recognise the value of your business through an R&D and IP lens.
- How do you value your innovation – our due diligence could reveal the value of your R&D and Intellectual Property
See our work in action with our client success stories
HMRC facts and figures
The government is giving a greater boost to the UK’s most innovative companies than ever before, according to the latest statistics.
R&D tax credits
HMRC has provided information on research and development (R&D) tax credits. We give you the key points to show the value of this opportunity to innovative business in the UK.
HMRC R&D tax credits claims since the scheme began Source: HMRC R&D tax credits statistics 2020
HMRC Patent Box claims since the scheme began
Source: HMRC Patent Box statistics 2020
Patent Box
HMRC has provided information on Patent Box. We give you the key points to show the value of this opportunity to innovative business in the UK.
For accountants
– what you need to know about innovation tax incentive
GovGrant has a proven track record and works with thousands of accountancy firms in the UK. We can work with accountancy firms in different ways under different arrangements – one size certainly does not fit all.
For the investment community
– what you need to know about the value of R&D and IP
Are you considering the full implications and tax incentives of R&D, Intellectual Property and patents to gain a competitive advantage.
Innovation Nation
– The UK SME Innovation Survey
Here at GovGrant we engage with businesses to find the best ways to reward innovation in the UK. We aim to influence policy by representing the innovative businesses we work with. As part of this ongoing dialogue, and at this critical time for SME businesses in the UK, we carried our Innovation Nation survey 2020.
Find out what is going on with our latest thinking
– news and views
The new cap on the SME R&D tax credit scheme
Further to our blog outlining the impacts of the Finance Bill 2021 we have received an update to the guidance on the new SME cap from HMRC.
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Albert Einstein
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